Recovery Experts LLC revealed their new case study today on Federal Government business refunds available through the CARES Act. This is a refundable tax credit – a grant, not a loan that can be claimed for a business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees
The case study also determined that initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs. The ERC though, cannot apply to the same wages as the ones for PPP.
It further uncovered that under the Consolidated Appropriations Act. businesses can now qualify for the ERC (Employee Retention Credit) however must have fallen under a government authority requiring a partial or full shutdown of the business during 2020 or 2021. This entity will also qualify if it is currently not in operation but was during the six quarter qualifying window.
Recovery Experts LLC Director of Operations, Jerry Stevens says there are many people looking for insights and answers about the CARES Act and a better understanding of the changes which took place post January 2020. ERC underwent several changes and has many technical details, including how to determine qualified wages, which employees are eligible, and more. Business specific cases may require more intensive review and analysis which is why it’s imperative to work with an expert in these matters. The program is complex and tends to leave many business owners with unanswered questions. This case study provides a clear understanding as to how a business can determine if it qualifies and how to file the proper documents for a maximum refund.
More information is available at http://www.recoveryexpertsnow.com.
About Recovery Experts LLC
Recovery Experts LLC was founded in 2021 and serves the surplus funds industry. It is known for identifying overage payments that were made through bankruptcy or mortgage foreclosure proceedings as well uniting funds back to individuals that were unaware of such monies.
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